Gasoline prices tumble 5.5 cents a litre
EUB erases much of previous week's gasoline price increase
New Brunswick gas prices fell by 5.5 cents a litre on Thursday, erasing a one-week spike in pump prices.
The Energy and Utilities Board set the maximum gasoline price at 135.1 cents per litre on Thursday in its weekly price setting, down from 140.6 cents a litre.
Gasoline prices jumped 6.6 cents per litre last week week following a minor explosion at the Irving Oil Ltd. refinery in Saint John.
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The problems at the Irving Oil refinery came at the same time as maintenance at two big exporting European refineries, including Shell's giant Pernis refinery in the Netherlands.
Gasoline prices were 134 cents a litre the week before the Irving Oil refinery ran into problems.
Gas prices in the province are set weekly by the province's Energy and Utilities Board based on New York Harbor spot prices during the previous week.
While gas prices fell this week, the province’s energy regulator set higher prices for the other fuels.
The maximum price for diesel is now 140.2 cents per litre, an increase of almost two cents a litre.
The cost of furnace oil inched up by 0.5 cents a litre to 119.4 cents a litre.
Propane held steady at 93.8 cents per litre.
The Energy and Utilities Board sets maximum prices, but companies can sell their fuel for less.